The ETF giants continued to rake within the majority of circulation in 2021 amid a record-breaking yr for the European ETF market.
ETFs in Europe noticed a document €162bn inflows over the 12 months, in keeping with knowledge from Bloomberg Intelligence, taking the area’s general belongings beneath administration to simply shy of €1.5trn.
As anticipated, BlackRock dominated proceedings with €69bn inflows over the 12 months, a 42.5% market share. Regardless of the large inflows, this was shy of the firm’s 50% market share in 2020.
The world’s largest asset supervisor’s ETF AUM in Europe now totals €615bn, as on the finish of December, because it captured the seismic shift to sustainable investments.
In the meantime, the massive information within the ETF area final yr was Amundi’s €825m acquisition of rival Lyxor for €825m. The mixed enterprise noticed inflows of €19.9bn which drove its AUM to over €170bn.
How Amundi streamlines the mixed vary will probably be essential in figuring out how profitable it’s this yr. Highlighting this, 14 totally different indices are tracked by at the very least 4 Amundi or Lyxor ETFs with simply these merchandise accounting for nearly a 3rd of the agency’s mixed belongings, as of July final yr.
Elsewhere, Vanguard and Invesco had sturdy years with inflows of €10bn and €9bn, respectively. The previous launched its first ESG ETF in Europe, the Vanguard ESG Global All Cap UCITS ETF (V3AA), final March whereas Invesco has dipped its toes into the crypto space with the launch of the Invesco Bodily Bitcoin ETP (BTIC).
Athanasios Psarofagis, ETF analyst at Bloomberg Intelligence, mentioned: “For essentially the most half, ETF flows have been in step with market share.
“It is vitally exhausting to discover a extra dominant participant in any area than BlackRock is in Europe. The closed deal between Amundi and Lyxor ought to assist enhance some competitors on the prime in 2022.”
A rejuvenated HSBC Asset Management punched above its weight in 2021 with inflows of €3.7bn which takes its AUM to €17.3bn.
The UK asset supervisor has been very energetic this yr with the launch of its first mounted earnings ETFs whereas additionally restructuring its $103bn passive arm to deliver ETF, indexing and systematic ranges beneath one umbrella.
The agency additionally expanded its ETF staff considerably final yr together with the appointments of Dominic Clabby as head of ETF strategy from Invesco final March and DWS’s Bhaven Patel as global head of ETF capital markets, ETF Stream revealed in April.
Additionally notable, was VanEck’s €2.4bn inflows in 2021 which nearly doubled its general ETF AUM to €5.8bn. This included vital demand for Europe’s first semiconductor ETF, the VanEck Vectors Semiconductor UCITS ETF (SMGB), which has gathered $850m AUM since launching in December 2020.
On the different finish of the spectrum, WisdomTree was the one main ETF issuer in Europe to endure outflows with €362m withdrawn over the 12 months. The agency was not helped by waning demand for gold with the WisdomTree Physical Gold ETC (PHGP) recording outflows of $1.4bn in 2021.
Supply: Bloomberg Intelligence
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